When the Productivity Commission sat down a year ago to identify 'whether and to what extent [Australia's broadcasting laws] restrict competition', it didn't have far to look. Tight control over the allocation of broadcast spectrum, no more than three commercial television stations in an area, limits on foreign ownership of commercial and pay TV, cross-media laws preventing the same person owning more than one of the main media in an area ... restricting competition seemed to be the whole idea. The question was whether the benefits of doing so exceeded the costs. The commission thinks not. Its final report, tabled in parliament on Tuesday, recommended the removal of most of these rules. Foreign investment in media should be handled like foreign investment in any other industry, with the Treasurer deciding whether particular proposals are in the national interest. [Introduction]